Government of Montenegro adopts temporary austerity measures

At yesterday's session, the Government adopted a set of temporary measures aimed at decreasing the projected GDP deficit of 2.73% in 2013. These measures will help avoid pay cuts and dismissals in the public sector, and will, at the same time, protect low-income retirees and...

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Government of Montenegro adopts temporary austerity measures

Balkans.com Business News Correspondent - 28.12.2012

At yesterday's session, the Government adopted a set of temporary measures aimed at decreasing the projected GDP deficit of 2.73% in 2013. These measures will help avoid pay cuts and dismissals in the public sector, and will, at the same time, protect low-income retirees and workers, as well as other vulnerable social groups, Finance Minister Radoje Žugić told the press.The austerity package envisages for the introduction of temporary crisis taxation of 3% that is to be calculated on all gross salaries above EUR 416 in 2013.Source: Government of Montenegro